Inspire Films IPO: The initial public offering (IPO) of Inspire Films Ltd, the television content company, closed today, September 27. The Inspire Films IPO, which opened for subscription on September 25, is an SME IPO and a book-built issue.
Inspire Films Ltd is engaged in the business of creation, production, distribution and exhibition of television and digital content.
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Let us check Inspire Films IPO subscription status, GMP today and other key details.
Inspire Films IPO Subscription Status
Inspire Films IPO has been subscribed by a robust 129.08 times on Wednesday, the third and the last day of the bidding process. The issue received bids for 30.90 crore equity shares as against 23.94 lakh shares on the offer.
The public issue was booked 180.41 times in the retail category and 147.16 times in the Non-Institutional Investors’ (NII) category, while the Qualified Institutional Buyers’ (QIB) portion saw 25.27 times subscription.
Also Read: Inspire Films IPO Day 2: Issue subscribed over 34 times; retail portion booked 55.71x
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Inspire Films IPO GMP Today
Inspire Films IPO GMP today, or grey market premium today is ₹24 per share. This shows Inspire Films shares are trading higher by ₹24 that their issue price, in the grey market.
The GMP today indicates that the estimated Inspire Films listing price would be ₹83 per share ( ₹59 + ₹24), which is at a premium of 40.68% to the issue price.
Also Read: Arabian Petroleum IPO Day 3: Issue subscribed 20 times so far on last day; retail portion booked 23x
Inspire Films IPO Details
Inspire Films IPO opened for subscription on Monday, September 25 and closed on Wednesday, September 27.
The company is likely to finalise the basis of IPO allotment on October 3 and initiate refunds on October 4, while credit the shares into the demat accounts of eligible investors on October 5.
Inspire Films shares are proposed to be listed at NSE SME with a tentative listing on October 6.
Inspire Films IPO price band has been fixed at ₹56 to ₹59 per share. The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹118,000.
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Inspire Films IPO is entirely a fresh issue of 35.98 lakh equity shares. At the upper end of the price band, the company plans to raise ₹21.23 crore from the issue.
The company has already raised ₹6.03 crore by allocating 10.22 lakh shares to anchor investors on September 22 ahead of the IPO opening.
A total of 18.97% shares in the Inspire Films IPO are reserved for Qualified Institutional Buyers (QIB), 33.31% for Retail Investors and 14.29% for Non-Institutional Investors (NII).
Inspire Films IPO Manager, Registrar: The book running lead manager of the Inspire Films IPO is Narnolia Financial Services Ltd, while IPO Registrar is Maashitla Securities Pvt Ltd.
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Updated: 27 Sep 2023, 05:19 PM IST